Record trade deficit weighs on US economy in first quarter

The Edge Markets LogoThe Edge Markets1 mo ago

Record trade deficit weighs on US economy in first quarter

Quick Summary AI Powered

But the bounce is losing momentum as the Federal Reserve aggressively tightens monetary policy to combat inflation, heightening fears of a recession.

That was revised down from the 1.5% pace of decline reported last month.

Business spending on equipment remained solid through May, while the goods trade deficit narrowed significantly as exports hit a record high.

More Pictures


Article Details

Category: InvestingFinance

Topics: Record Spending Government Rate Trade Deficit Quarter Domestic Pace Economy Last

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-29, 12:49:44

News Timezone: GMT +8:00

News Source URL:

Language: English

Reading Time: 2 minutes read

Article Length: 304 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 20315

View Article Analysis

About The Edge Markets

The Edge Markets Logo

Main Topics: InvestingFinance

Official Website:

Update Frequency: 114 posts per day

Year Established: 1994

Headquarters: Malaysia

News Last Updated: 12h ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #17

Publisher Details

BEAMSTART brings you the latest news, jobs, and events from all around the world on startups, technology, and business. Stay updated with industry news, plug-in to exciting events, and discover incredible career opportunities with the world's most innovative companies.

© Copyright 2022 BEAMSTART. All Rights Reserved.